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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)
3 Months Ended
Mar. 31, 2018
INVESTMENT IN MINERA SANTA CRUZ S.A. (“MSC”) - SAN JOSE MINE  
Schedule of change in the entity's investment in MSC

 

 

 

 

 

 

 

 

    

March 31, 2018

    

December 31, 2017

Investment in MSC, beginning of the period

 

$

150,064

 

$

162,320

Attributable net income (loss) from MSC

 

 

430

 

 

(2,328)

Amortization of fair value increments

 

 

(2,115)

 

 

(9,632)

Income tax recovery

 

 

1,473

 

 

11,916

Dividend distribution received

 

 

(4,851)

 

 

(12,212)

Investment in MSC, end of the period

 

$

145,001

 

$

150,064

 

Summary of MSC's financial information from operations

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

    

2018

    

2017

Minera Santa Cruz S.A. (100%)

 

 

 

 

 

 

Net Sales

 

$

50,662

 

$

48,343

Production costs applicable to sales

 

 

(43,468)

 

 

(36,699)

Net income

 

 

878

 

 

4,381

 

 

 

 

 

 

 

Portion attributable to McEwen Mining Inc. (49%)

 

 

 

 

 

 

Net income

 

$

430

 

$

2,147

Amortization of fair value increments

 

 

(2,115)

 

 

(2,069)

Income tax recovery

 

 

1,473

 

 

112

(Loss) income from investment in MSC, net of amortization

 

$

(212)

 

$

190